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Former Soviet Sberbank depositors get over Hr 3 billion in compensation

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Sept. 20, 2012, 9:49 a.m. | Business — by Interfax-Ukraine

Depositors of the former Soviet Savings Bank (Sberbank) have received more than Hr 3 billion in compensation for depreciated savings, according to a press release by the Ukrainian Savings Bank (Oschadbank).
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Depositors of the former Soviet Savings Bank (Sberbank) have received more than Hr 3 billion in compensation for depreciated savings, according to a press release by the Ukrainian Savings Bank (Oschadbank).

"As of September 19 this year, Oschadbank branches paid Hr 3.037 billion in compensation to over 3.209 million depositors," reads the press release.

There are currently 5.580 million depositors who have dates for updating personal information so as to receive compensation. Of them, 3.097 million people have already provided their updated information.

As reported, Oschadbank started paying the compensation to former Soviet Sberbank depositors on June 1, 2012. Repayments are made to those depositors whose personal information had been included on the register of savings depositors by January 1, 2012 and who did not receive their compensation in 2008 when indexed savings were paid. Depositors are paid no more than Hr 1,000 per capita.

On September 1, 2012, Oschadbank started registering those depositors of Soviet-era Sberbank whose data were not put on the register of depositors, and updating information about depositors whose data was put on the register, and who obtained compensation in full in 2008.

As of today, 1.255 million new depositors received information about the date and time for the registration of their information, according to Oschadbank.

The bank also said that compensation worth almost Hr 300 million had been paid to 616,000 heirs of depositors who have died.

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